# Raymond James Financial vs peers: AI and technology compared

Source: https://www.bankingnewsai.com/banks/raymond-james/vs-peers
Last updated: Oct 20, 2026

*Part of the [Raymond James Financial AI strategy profile](https://www.bankingnewsai.com/banks/raymond-james). Peer group: Stifel Financial (Stifel Bank & Trust), The Charles Schwab Corporation, Morgan Stanley, UBS (US), Bank of America, Wells Fargo, Northern Trust, Goldman Sachs.*

## How does Raymond James Financial compare with its peers on AI and technology?

On this site's AI disclosure index Raymond James scores 84.5 (#12 of 120 US banks), third in a nine-firm wealth-management group behind Bank of America (97.3) and Wells Fargo (88.8) and ahead of Schwab (80.7), Goldman Sachs (79.9), UBS's US business (75.3) and Morgan Stanley (69.7). It ranks 2nd in the group on its own primary disclosures. Three things separate it. It has named AI leadership, a chief AI officer since February 2025 and a head of AI strategy since September 2025. It reports internal adoption: more than 10,000 associates use conversational AI regularly (January 2026), and its Rai operations agent reached 6,500 unique users with 99.5% satisfaction (July 2026). And it says it spends more than $1.1 billion a year on technology (April 2026). Peers report broader advisor reach. Morgan Stanley says 98% of its advisor teams use its AI Assistant (June 2024), UBS says nearly 90% of its US advisor teams use its flagship AI platform (April 2026), and Schwab has given AI tools to all 33,000 employees (April 2026). Raymond James has no client-facing AI adviser; its stance, in its own words, is 'augmenting the human touch, rather than replacing it'. Markets have treated it as exposed anyway: its shares fell 8.75% on February 10, 2026 when Altruist launched an AI tax-planning tool, against 7.42% for Schwab and 2.4% for Morgan Stanley. ([Raymond James via Canada NewsWire (Yahoo Finance)](https://finance.yahoo.com/news/raymond-james-financial-appoints-chief-212200934.html), [GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2), [InvestmentNews](https://investmentnews.com/independent-broker-dealers/raymond-james-unveils-proprietary-ai-operations-agent/265028), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/raymond-james-financial-q3-earnings-230545601.html), [Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/raymond-james-rjf-q2-2026-234354155.html), [Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [UBS Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/1610520/000161052026000053/investorpresotext2026.htm), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/schwab-schw-q1-2026-earnings-145425271.html), [CNBC](https://www.cnbc.com/2026/02/10/the-ai-threat-wrecked-software-stocks-now-broker-stocks-look-next-with-lpl-down-11percent.html))

## Where does Raymond James lead its peers on AI?

- **A dedicated AI office rather than AI under the CIO.** Raymond James appointed Stuart Feld chief AI officer in February 2025, hired David Solganik as head of AI strategy in September 2025 and in June 2026 named a chief architect to drive enterprise technology and AI strategy. Morgan Stanley's AI work runs under its head of technology, Michael Pizzi, who oversees about 16,000 developers. ([Raymond James via Canada NewsWire (Yahoo Finance)](https://finance.yahoo.com/news/raymond-james-financial-appoints-chief-212200934.html), [GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2), [Raymond James](https://raymondjames.com/richmond-branch/about-us/press-releases/2026/06/08/raymond-james-appoints-chief-architect-to-bolster-enterprise-technology-and-ai-strategy), [American Banker](https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking))
- **More own disclosure than almost any peer.** Raymond James scores 23 on own primary disclosures, 2nd of nine behind Northern Trust (32), against a group median of 15; its press releases cover Rai (January 2026), AI Search (April 2025), Zoom AI summaries (May 2025), an AI Academy (May 2026) and an expanded AWS collaboration (September 2026). ([Raymond James](https://raymondjames.com/news-and-media/press-releases/2026/01/27/raymond-james-launches-proprietary-digital-ai-agent-to-bolster-operational-excellence), [GlobeNewswire](https://www.globenewswire.com/news-release/2025/04/17/3063545/0/en/raymond-james-invests-in-service-excellence-with-proprietary-generative-ai-search.html), [Raymond James](https://raymondjames.com/athens-branch/about-us/press-releases/2025/05/15/raymond-james-expands-service-focused-technology-investment-with-zoom-ai-companion), [Raymond James](https://www.raymondjames.com/advisor-opportunities/press-releases/2026/05/04/raymond-james-tech-innovations), [Raymond James](https://www.raymondjames.com/advisor-opportunities/press-releases/2026/09/21/raymond-james-strengthens-data-and-analytics-capabilities-to-advance-ai-powered-advisor-insights))
- **A measured internal agent with a usage count.** Rai, the proprietary operations agent launched in January 2026, had 6,500 unique users and a 99.5% satisfaction rate after its enterprise rollout (July 2026), and nearly 20,000 AI Academy courses had been completed. Schwab reports its AI Service Assistant transcribes about 60,000 live interactions a day (April 2026). ([Raymond James](https://raymondjames.com/news-and-media/press-releases/2026/01/27/raymond-james-launches-proprietary-digital-ai-agent-to-bolster-operational-excellence), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/raymond-james-financial-q3-earnings-230545601.html), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/schwab-schw-q1-2026-earnings-145425271.html))
- **A disclosed technology budget.** Raymond James says it spends more than $1.1 billion a year on technology (April 2026), up from $975 million in 2025. Bank of America puts its 2026 technology budget at $13.5 billion and Wells Fargo at more than $10 billion; Morgan Stanley and Stifel give no comparable figure on their profiles. ([Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/raymond-james-rjf-q2-2026-234354155.html), [GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2), [Bank of America (PR Newswire)](https://prnewswire.com/news-releases/merrill-and-bank-of-america-private-bank-launch-ai-powered-meeting-journey-302725593.html), [American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-11-bridget-engle-wells-fargo))

## Where does Raymond James trail its peers on AI?

- **No client-facing AI while rivals ship to investors.** Raymond James' AI is for advisors and associates; CIO Andy Zolper said Raimond could become client-facing only if advisors see a use case (May 2026). Robinhood gave Gold members Cortex AI tools and, in June 2026, offered Cortex to RIAs on its TradePMR platform; Bank of America's Erica has helped more than 24.6 million clients. ([WealthManagement.com](https://wealthmanagement.com/ibd-news/raymond-james-announces-ai-driven-client360-platform-ai-advisor-academy), [TradePMR (Robinhood)](https://tradepmr.com/blog/robinhood-and-tradepmr-unveil-the-future-of-wealth-management-at-synergy26), [U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1783879/000178387926000061/q12026robinhoodexhibit991.htm), [Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/company-overview/bank-of-america-fast-facts.html))
- **Narrower advisor adoption figures than Morgan Stanley and UBS.** The Raimond pilot covered 600 advisors and 1,400 home-office staff in May 2026, out of 8,943 affiliated advisors at September 2025. Morgan Stanley says 98% of its advisor teams use its Assistant, and UBS says nearly 90% of US advisor teams use its flagship AI platform (April 2026). ([WealthManagement.com](https://wealthmanagement.com/ibd-news/raymond-james-announces-ai-driven-client360-platform-ai-advisor-academy), [Raymond James Financial (SEC filings)](https://www.sec.gov/Archives/edgar/data/720005/000072000525000093/rjf-20250930.htm), [Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [UBS Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/1610520/000161052026000053/investorpresotext2026.htm))
- **Less independent coverage than the big wealth banks.** Raymond James scores 19 on independent sources, 6th of nine against a median of 21; Goldman Sachs scores 39 and Bank of America 37. Its AI story is told mostly through its own releases and earnings calls, and its three fiscal 2026 10-Qs contain no reference to AI. ([Raymond James Financial (SEC filings)](https://www.sec.gov/Archives/edgar/data/720005/000072000526000035/rjf-20251231.htm), [Raymond James Financial (SEC filings)](https://www.sec.gov/Archives/edgar/data/720005/000072000526000051/rjf-20260331.htm), [Raymond James Financial (SEC filings)](https://www.sec.gov/Archives/edgar/data/720005/000072000526000070/rjf-20260630.htm))
- **Most exposed to the AI selloffs in its group.** On February 10, 2026 Raymond James fell 8.75% after Altruist's AI tax tool launch, more than Schwab (7.42%) and Morgan Stanley (2.4%); on September 22, 2026, after Meta announced Muse, it fell 3.5% while LPL fell 7%. Stifel fell about 6% on the February day. ([CNBC](https://www.cnbc.com/2026/02/10/the-ai-threat-wrecked-software-stocks-now-broker-stocks-look-next-with-lpl-down-11percent.html), [CNBC](https://www.cnbc.com/2026/09/23/metas-muse-ai-causes-schwab-selloff.html), [Investing.com (Yahoo Finance)](https://uk.finance.yahoo.com/news/schwab-raymond-james-stifel-drop-173410149.html))

## Where does Raymond James rank against its peers on AI disclosure?

Scores from the US AI disclosure index of 120 banks (0–100; 45% of the weight on independent coverage). The index measures what each bank has put on the public record and what outside outlets have reported about its AI, not capability or spending; every count is of entries on that bank's profile, each of which cites its sources.

| Bank | Score | Rank | Independent sources | Own disclosures | Use cases in production | Moves, last 12 months | Named AI platform |
| --- | --- | --- | --- | --- | --- | --- | --- |
| [Bank of America](https://www.bankingnewsai.com/banks/bank-of-america) | [97.3](https://www.bankingnewsai.com/banks/ai-index) | #1 of 120 | [37](https://www.bankingnewsai.com/banks/bank-of-america#sources) | [24](https://www.bankingnewsai.com/banks/bank-of-america#sources) | [16 of 18](https://www.bankingnewsai.com/banks/bank-of-america#where) | [34](https://www.bankingnewsai.com/banks/bank-of-america#timeline) | Erica (and EricaAssist) ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html), [Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2026/07/bank-of-america-enhances-ericaassist-with-generative-ai-to-help-.html), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) |
| [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | [88.8](https://www.bankingnewsai.com/banks/ai-index) | #7 of 120 | [32](https://www.bankingnewsai.com/banks/wells-fargo#sources) | [15](https://www.bankingnewsai.com/banks/wells-fargo#sources) | [13 of 16](https://www.bankingnewsai.com/banks/wells-fargo#where) | [33](https://www.bankingnewsai.com/banks/wells-fargo#timeline) | Fargo and the Google Cloud agent stack ([Wells Fargo](https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/fourth-quarter-2023-financial-results.pdf), [VentureBeat](https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm), [Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones), [American Banker](https://www.americanbanker.com/news/wells-fargo-plans-to-unleash-googles-agentic-ai-bank-wide)) |
| [Raymond James Financial (this page)](https://www.bankingnewsai.com/banks/raymond-james) | [84.5](https://www.bankingnewsai.com/banks/ai-index) | #12 of 120 | [19](https://www.bankingnewsai.com/banks/raymond-james#sources) | [23](https://www.bankingnewsai.com/banks/raymond-james#sources) | [14 of 16](https://www.bankingnewsai.com/banks/raymond-james#where) | [21](https://www.bankingnewsai.com/banks/raymond-james#timeline) | Rai, AI Search and the advisor desktop ([Raymond James](https://raymondjames.com/news-and-media/press-releases/2026/01/27/raymond-james-launches-proprietary-digital-ai-agent-to-bolster-operational-excellence), [GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2), [Raymond James](https://raymondjames.com/athens-branch/about-us/press-releases/2025/05/15/raymond-james-expands-service-focused-technology-investment-with-zoom-ai-companion)) |
| [The Charles Schwab Corporation](https://www.bankingnewsai.com/banks/charles-schwab) | [80.7](https://www.bankingnewsai.com/banks/ai-index) | #19 of 120 | [18](https://www.bankingnewsai.com/banks/charles-schwab#sources) | [14](https://www.bankingnewsai.com/banks/charles-schwab#sources) | [15 of 19](https://www.bankingnewsai.com/banks/charles-schwab#where) | [24](https://www.bankingnewsai.com/banks/charles-schwab#timeline) | Charley, Portfolio Insights, Schwab Knowledge Assistant and Schwab Advisor AI in Action ([Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Meet-Charley-Schwabs-New-AI-Powered-Assistant-Designed-to-Help-Clients-Get-Answers-and-Take-Action/default.aspx), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Launches-AI-Powered-Capability-That-Helps-Investors-Understand-Portfolio-Performance-and-Market-Activity/default.aspx), [Charles Schwab](https://www.aboutschwab.com/mss/story/ai-on-the-other-end-of-the-line), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Schwab-Study-Reveals-RIA-AI-Adoption-More-Than-Doubles---But-Most-Firms-Still-in-Early-Stages/default.aspx), [Banking Dive](https://bankingdive.com/news/charles-schwab-bank-ceo-paul-woolway-retire-tyler-woulfe/811079)) |
| [Goldman Sachs](https://www.bankingnewsai.com/banks/goldman-sachs) | [79.9](https://www.bankingnewsai.com/banks/ai-index) | #22 of 120 | [39](https://www.bankingnewsai.com/banks/goldman-sachs#sources) | [15](https://www.bankingnewsai.com/banks/goldman-sachs#sources) | [7 of 13](https://www.bankingnewsai.com/banks/goldman-sachs#where) | [28](https://www.bankingnewsai.com/banks/goldman-sachs#timeline) | GS AI Platform and GS AI Assistant ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) |
| [Northern Trust](https://www.bankingnewsai.com/banks/northern-trust) | [79.7](https://www.bankingnewsai.com/banks/ai-index) | #23 of 120 | [12](https://www.bankingnewsai.com/banks/northern-trust#sources) | [32](https://www.bankingnewsai.com/banks/northern-trust#sources) | [11 of 17](https://www.bankingnewsai.com/banks/northern-trust#where) | [22](https://www.bankingnewsai.com/banks/northern-trust#timeline) | Open Semantic Interchange and the data foundation ([Northern Trust](https://www.northerntrust.com/united-states/pr/2026/northern-trust-collaborates-with-industry-peers-to-strengthen-data-and-ai-interoperability), [Northern Trust](https://northerntrust.com/content/dam/northerntrust/pws/nt/documents/earnings/2025/4q-2025-km040886-presentation.pdf), [Northern Trust Asset Management](https://ntam.northerntrust.com/united-states/all-investor/insights/investment-perspective-and-commentary/2026/how-does-natural-language-processing-work), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-conference-ntrs-bets-080213324.html), [Yahoo Finance](https://finance.yahoo.com/news/northern-trust-ntrs-q4-2025-153130711.html)) |
| [UBS (US)](https://www.bankingnewsai.com/banks/ubs-usa) | [75.3](https://www.bankingnewsai.com/banks/ai-index) | #31 of 120 | [21](https://www.bankingnewsai.com/banks/ubs-usa#sources) | [9](https://www.bankingnewsai.com/banks/ubs-usa#sources) | [10 of 14](https://www.bankingnewsai.com/banks/ubs-usa#where) | [22](https://www.bankingnewsai.com/banks/ubs-usa#timeline) | UBS Claves, the Chief AI Office and the 'Big Rocks' ([UBS](https://www.ubs.com/global/en/our-firm/what-we-do/technology/innovation-and-ai.html), [UBS](https://ubs.com/global/en/media/display-page-ndp/en-20251016-ai-strategy.html), [UBS](https://ubs.com/us/en/wealth-management/financial-advisor-experience/articles/ai-for-financial-advisors.html)) |
| [Morgan Stanley](https://www.bankingnewsai.com/banks/morgan-stanley) | [69.7](https://www.bankingnewsai.com/banks/ai-index) | #34 of 120 | [21](https://www.bankingnewsai.com/banks/morgan-stanley#sources) | [9](https://www.bankingnewsai.com/banks/morgan-stanley#sources) | [9 of 14](https://www.bankingnewsai.com/banks/morgan-stanley#where) | [19](https://www.bankingnewsai.com/banks/morgan-stanley#timeline) | AI @ Morgan Stanley (Assistant, Debrief) and AskResearchGPT ([Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [Morgan Stanley](https://www.morganstanley.com/press-releases/morgan-stanley-research-announces-askresearchgpt), [Morgan Stanley](https://www.morganstanley.com/press-releases/morgan-stanley-wins-three-2024-technology-awards)) |
| [Stifel Financial (Stifel Bank & Trust)](https://www.bankingnewsai.com/banks/stifel-bank) | [6.5](https://www.bankingnewsai.com/banks/ai-index) | #104 of 120 | [10](https://www.bankingnewsai.com/banks/stifel-bank#sources) | [18](https://www.bankingnewsai.com/banks/stifel-bank#sources) | [12 of 13](https://www.bankingnewsai.com/banks/stifel-bank#where) | [22](https://www.bankingnewsai.com/banks/stifel-bank#timeline) | Stifel's advisor-first AI stance and fund-banking-driven balance sheet ([Stifel Financial](https://stifel.com/investor-relations/DownloadEarningsReleaseFile?fiscalYear=2026&id=263), [TheStreet (Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/stifel-earnings-expose-wall-street-030700080.html), [Stifel](https://stifel.com/Newsletters/AdGraphics/InSight/Outlook/2026/Outlook2026_Artificial-Intelligence.pdf), [GuruFocus (Yahoo Finance)](https://finance.yahoo.com/news/stifel-financial-corp-sf-q2-210257050.html), [Stifel Financial (SEC filings)](https://www.sec.gov/Archives/edgar/data/720672/000119312526067130/sf-20251231.htm)) |

## On which parts of the AI record is Raymond James ahead of or behind its peers?

Each row is one input of the index, counted on the profiles of Raymond James and the 8 peers that are scored on the same basis. "Place" is Raymond James's position in the group of 9 (1st = most).

| Component (weight) | Raymond James | Peer median | Most in the group | Place |
| --- | --- | --- | --- | --- |
| Independent sources (45%) | 19 | 21 | [Goldman (39)](https://www.bankingnewsai.com/banks/goldman-sachs) | 6th of 9 |
| Use cases in production (10%) | 14 | 11.5 | [BofA (16)](https://www.bankingnewsai.com/banks/bank-of-america) | 3rd of 9 |
| Own primary disclosures (10%) | 23 | 15 | [Northern Trust (32)](https://www.bankingnewsai.com/banks/northern-trust) | 3rd of 9 |
| Dated moves, last 12 months (10%) | 21 | 23 | [BofA (34)](https://www.bankingnewsai.com/banks/bank-of-america) | 8th of 9 |
| Disclosed numbers (5%) | 16 | 16 | [BofA (28)](https://www.bankingnewsai.com/banks/bank-of-america) | 5th of 9 |
| Named AI leaders (5%) | 13 | 15.5 | [Northern Trust (20)](https://www.bankingnewsai.com/banks/northern-trust) | 7th of 9 |
| Use cases described (5%) | 16 | 15 | [Schwab (19)](https://www.bankingnewsai.com/banks/charles-schwab) | 4th of 9 |

## What has each bank in Raymond James's peer group disclosed about its AI?

Facts from each bank's profile, cited to the profile's own sources. "Not disclosed" means the bank's public record, as cited on its profile, does not state it.

| Bank | Platform or assistant, as the profile names it | AI leaders named | Headline AI number disclosed | Patents on the record | Open AI roles |
| --- | --- | --- | --- | --- | --- |
| [Raymond James Financial](https://www.bankingnewsai.com/banks/raymond-james) | Rai, AI Search and the advisor desktop ([Raymond James](https://raymondjames.com/news-and-media/press-releases/2026/01/27/raymond-james-launches-proprietary-digital-ai-agent-to-bolster-operational-excellence), [GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2), [Raymond James](https://raymondjames.com/athens-branch/about-us/press-releases/2025/05/15/raymond-james-expands-service-focused-technology-investment-with-zoom-ai-companion)) | [13, incl. Paul Shoukry (Chief Executive Officer)](https://www.bankingnewsai.com/banks/raymond-james#people) ([GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2), [Raymond James](https://raymondjames.com/news-and-media/press-releases/2026/01/27/raymond-james-launches-proprietary-digital-ai-agent-to-bolster-operational-excellence)) | Share move on AI-disruption fears: −8.8% (10 Feb 2026) (Feb 10, 2026) ([Bloomberg](https://bloomberg.com/news/articles/2026-02-10/wealth-manager-stocks-sink-as-new-ai-tool-sparks-disruption-fear)) | 4 patents listed on the profile, e.g. US 2025/0378492 A1 (Smart contracts for multiple oracle networks) ([Google Patents (USPTO)](https://patents.google.com/patent/US20250378492A1/en)) | [2 open AI roles (Oct 1, 2026); most in ML & data science](https://www.bankingnewsai.com/banks/raymond-james#roles) |
| [Stifel Financial (Stifel Bank & Trust)](https://www.bankingnewsai.com/banks/stifel-bank) | Stifel's advisor-first AI stance and fund-banking-driven balance sheet ([Stifel Financial](https://stifel.com/investor-relations/DownloadEarningsReleaseFile?fiscalYear=2026&id=263), [TheStreet (Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/stifel-earnings-expose-wall-street-030700080.html), [Stifel](https://stifel.com/Newsletters/AdGraphics/InSight/Outlook/2026/Outlook2026_Artificial-Intelligence.pdf), [GuruFocus (Yahoo Finance)](https://finance.yahoo.com/news/stifel-financial-corp-sf-q2-210257050.html), [Stifel Financial (SEC filings)](https://www.sec.gov/Archives/edgar/data/720672/000119312526067130/sf-20251231.htm)) | [6, incl. Ronald J. Kruszewski (Chairman and CEO, Stifel Financial)](https://www.bankingnewsai.com/banks/stifel-bank#people) ([Stifel Financial](https://stifel.com/investor-relations/DownloadEarningsReleaseFile?fiscalYear=2026&id=263), [TheStreet (Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/stifel-earnings-expose-wall-street-030700080.html)) | Share-price fall on AI disruption fears: −6% (Feb 10, 2026) ([Investing.com (Yahoo Finance)](https://uk.finance.yahoo.com/news/schwab-raymond-james-stifel-drop-173410149.html)) | Not disclosed | [2 open AI roles (Sep 24, 2026); most in AI security](https://www.bankingnewsai.com/banks/stifel-bank#roles) |
| [The Charles Schwab Corporation](https://www.bankingnewsai.com/banks/charles-schwab) | Charley, Portfolio Insights, Schwab Knowledge Assistant and Schwab Advisor AI in Action ([Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Meet-Charley-Schwabs-New-AI-Powered-Assistant-Designed-to-Help-Clients-Get-Answers-and-Take-Action/default.aspx), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Launches-AI-Powered-Capability-That-Helps-Investors-Understand-Portfolio-Performance-and-Market-Activity/default.aspx), [Charles Schwab](https://www.aboutschwab.com/mss/story/ai-on-the-other-end-of-the-line), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Schwab-Study-Reveals-RIA-AI-Adoption-More-Than-Doubles---But-Most-Firms-Still-in-Early-Stages/default.aspx), [Banking Dive](https://bankingdive.com/news/charles-schwab-bank-ceo-paul-woolway-retire-tyler-woulfe/811079)) | [14, incl. Rick Wurster (President and CEO)](https://www.bankingnewsai.com/banks/charles-schwab#people) ([Bloomberg](https://bloomberg.com/news/articles/2026-05-13/schwab-plans-to-use-ai-to-reach-serve-less-affluent-customers), [Bloomberg](https://bloomberg.com/news/articles/2026-02-11/charles-schwab-ceo-says-ai-is-poised-to-boost-wealth-managers)) | Retail clients wanting AI paired with human expertise: ≈ 70% (of ≈ 1,000 surveyed) (May 5, 2026) ([Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Launches-AI-Powered-Capability-That-Helps-Investors-Understand-Portfolio-Performance-and-Market-Activity/default.aspx)) | 4 patents listed on the profile, e.g. US 2025/0077917 A1 (Iterative generation and plotting of machine-learning outcomes) ([Google Patents (USPTO)](https://patents.google.com/patent/US20250077917A1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI product & strategy](https://www.bankingnewsai.com/banks/charles-schwab#roles) |
| [Morgan Stanley](https://www.bankingnewsai.com/banks/morgan-stanley) | AI @ Morgan Stanley (Assistant, Debrief) and AskResearchGPT ([Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [Morgan Stanley](https://www.morganstanley.com/press-releases/morgan-stanley-research-announces-askresearchgpt), [Morgan Stanley](https://www.morganstanley.com/press-releases/morgan-stanley-wins-three-2024-technology-awards)) | [13, incl. Michael Pizzi (Head of Technology)](https://www.bankingnewsai.com/banks/morgan-stanley#people) ([American Banker](https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking)) | Employees with gen-AI access: ≈ 98% of 80,000 (Jun 1, 2026) ([American Banker](https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking)) | 3 patents listed on the profile, e.g. US 2026/0051336 A1 (Enhancing audio and video media using generative AI) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260051336A1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/morgan-stanley#roles) |
| [UBS (US)](https://www.bankingnewsai.com/banks/ubs-usa) | UBS Claves, the Chief AI Office and the 'Big Rocks' ([UBS](https://www.ubs.com/global/en/our-firm/what-we-do/technology/innovation-and-ai.html), [UBS](https://ubs.com/global/en/media/display-page-ndp/en-20251016-ai-strategy.html), [UBS](https://ubs.com/us/en/wealth-management/financial-advisor-experience/articles/ai-for-financial-advisors.html)) | [15, incl. Sergio Ermotti (Group Chief Executive Officer)](https://www.bankingnewsai.com/banks/ubs-usa#people) ([Banking Dive](https://bankingdive.com/news/ubs-deploys-ai-programs-unlock-efficiency-ermotti-magazzeni-credit-suisse/811572)) | Live AI use cases (group): 300+ (Oct 16, 2025) ([UBS](https://ubs.com/global/en/media/display-page-ndp/en-20251016-ai-strategy.html)) | 2 patents listed on the profile, e.g. US 11,429,879 B2 (Identifying dynamic thematic relationships over time with machine-learning models) ([Google Patents (USPTO)](https://patents.google.com/patent/US11429879B2/en)) | [2 open AI roles (Sep 24, 2026); most in AI product & strategy](https://www.bankingnewsai.com/banks/ubs-usa#roles) |
| [Bank of America](https://www.bankingnewsai.com/banks/bank-of-america) | Erica (and EricaAssist) ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html), [Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2026/07/bank-of-america-enhances-ericaassist-with-generative-ai-to-help-.html), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) | [17, incl. Hari Gopalkrishnan (Chief Technology and Information Officer)](https://www.bankingnewsai.com/banks/bank-of-america#people) ([The Wall Street Journal](https://www.wsj.com/articles/the-man-behind-bank-of-americas-13-billion-tech-agenda-3d770a2d), [American Banker](https://www.americanbanker.com/news/bofas-cto-is-12-on-the-most-innovative-people-in-finance-ranking)) | Erica interactions per day: 2 million (Jan 22, 2026) ([American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) | 8 patents listed on the profile, e.g. US 12,705,363 B2 (Vulnerability detection and mitigation using artificial intelligence in an electronic environment: Generates a vulnerability attribute for a network device from source data using AI.) ([Google Patents (USPTO)](https://patents.google.com/patent/US12705363B2/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/bank-of-america#roles) |
| [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | Fargo and the Google Cloud agent stack ([Wells Fargo](https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/fourth-quarter-2023-financial-results.pdf), [VentureBeat](https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm), [Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones), [American Banker](https://www.americanbanker.com/news/wells-fargo-plans-to-unleash-googles-agentic-ai-bank-wide)) | [16, incl. Saul Van Beurden (Head of AI)](https://www.bankingnewsai.com/banks/wells-fargo#people) ([Wells Fargo via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202511201615BIZWIRE_USPRX____20251120_BW971693-1), [Bloomberg](https://www.bloomberg.com/news/articles/2026-01-26/wells-fargo-taps-amazon-web-services-executive-to-expand-ai-use)) | Fargo interactions, 2024: 245 million (2024); 336 million since launch at the time (Apr 8, 2025) ([VentureBeat](https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm)) | 6 patents listed on the profile, e.g. US 2026/0087043 A1 (Model-based personal advisor) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260087043A1/en)) | [12+ open AI roles (Sep 24, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/wells-fargo#roles) |
| [Northern Trust](https://www.bankingnewsai.com/banks/northern-trust) | Open Semantic Interchange and the data foundation ([Northern Trust](https://www.northerntrust.com/united-states/pr/2026/northern-trust-collaborates-with-industry-peers-to-strengthen-data-and-ai-interoperability), [Northern Trust](https://northerntrust.com/content/dam/northerntrust/pws/nt/documents/earnings/2025/4q-2025-km040886-presentation.pdf), [Northern Trust Asset Management](https://ntam.northerntrust.com/united-states/all-investor/insights/investment-perspective-and-commentary/2026/how-does-natural-language-processing-work), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-conference-ntrs-bets-080213324.html), [Yahoo Finance](https://finance.yahoo.com/news/northern-trust-ntrs-q4-2025-153130711.html)) | [20, incl. Michael O'Grady (Chairman and CEO)](https://www.bankingnewsai.com/banks/northern-trust#people) ([Banking Dive](https://www.bankingdive.com/news/northern-trust-ceo-dismisses-bny-goldman-sachs-takeover-reports-ogrady-warren-vince/753953/), [American Banker](https://www.americanbanker.com/news/northern-trust-joins-banks-lifted-by-ipos-capital-markets)) | AI use cases in production: 150+ (Oct 22, 2025) ([GuruFocus (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-corp-ntrs-q3-190424060.html)) | 3 patents listed on the profile, e.g. US 11,869,015 B1 (Benchmarking that may use a k-nearest-neighbour or other machine-learning algorithm) ([Google Patents (USPTO)](https://patents.google.com/patent/US11869015B1/en)) | [11 open AI roles (Sep 24, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/northern-trust#roles) |
| [Goldman Sachs](https://www.bankingnewsai.com/banks/goldman-sachs) | GS AI Platform and GS AI Assistant ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) | [16, incl. Marco Argenti (Chief Information Officer)](https://www.bankingnewsai.com/banks/goldman-sachs#people) ([CNBC](https://www.cnbc.com/2026/02/06/anthropic-goldman-sachs-ai-model-accounting.html), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) | Employees with GS AI Assistant: 46,000 (all) (Jul 25, 2025) ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month)) | 5 patents listed on the profile, e.g. US 2026/0072655 A1 (Context injection for AI coding assistants) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260072655A1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/goldman-sachs#roles) |

## What are the latest dated moves on the AI record of Raymond James and its peers?

The two newest dated entries of each bank since Oct 16, 2025, from the timelines of the profiles (which also log filings, results and deals that bear on the AI record), newest first.

| Date | Bank | Move |
| --- | --- | --- |
| Oct 13, 2026 | [Goldman](https://www.bankingnewsai.com/banks/goldman-sachs) | Q3 2026 call: Solomon sets out AI guardrails and compute-supply risk ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-goldman-sachs-tops-q3-2026-estimates-as-revenue-rises-93CH-4947164), [American Banker](https://americanbanker.com/news/goldmans-solomon-wants-clear-human-accountability-on-ai)) |
| Oct 13, 2026 | [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | Q3 2026 call: AI agents in code, marketing, cyber, underwriting ([PYMNTS](https://pymnts.com/earnings/2026/wells-fargo-enhances-banking-capabilities-using-ai-and-digital-assets), [Wells Fargo](https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/third-quarter-2026-earnings.pdf)) |
| Oct 13, 2026 | [BofA](https://www.bankingnewsai.com/banks/bank-of-america) | Treasury, FinCEN and OCC impose $1.21 billion in AML and sanctions penalties ([U.S. Department of the Treasury](https://home.treasury.gov/news/press-releases/sb0657), [Office of the Comptroller of the Currency](https://www.occ.gov/news-issuances/news-releases/2026/nr-occ-2026-89.html), [Banking Dive](https://bankingdive.com/news/bofa-fined-1-21-billion-over-aml-bsa-occ-treasury/832915)) |
| Oct 8, 2026 | [Goldman](https://www.bankingnewsai.com/banks/goldman-sachs) | Sneader: new joiners 'are managing agents' ([Bloomberg](https://bloomberg.com/news/articles/2026-10-08/young-bankers-to-manage-ai-agents-from-start-goldman-exec-says)) |
| Oct 8, 2026 | [Schwab](https://www.bankingnewsai.com/banks/charles-schwab) | How Charley was built: employee testing, confirmation before any change ([Traders Magazine](https://www.tradersmagazine.com/featured_articles/charles-schwabs-amy-ruegg-ai-can-make-investing-easier-but-human-expertise-remains-key/)) |
| Oct 7, 2026 | [Stifel Bank](https://www.bankingnewsai.com/banks/stifel-bank) | CEO on CNBC: look at companies benefiting from AI, not just those building it ([CNBC](https://cnbc.com/video/2026/10/07/stifel-ceo-ron-kruszewski-we-should-be-looking-at-companies-benefiting-from-ai-not-just-those-building-ai.html)) |
| Oct 6, 2026 | [BofA](https://www.bankingnewsai.com/banks/bank-of-america) | Evident AI Index: seventh, up from tenth ([American Banker](https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens)) |
| Oct 1, 2026 | [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | Engle: $10 billion technology budget, nearly 200,000 staff with AI tools ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-11-bridget-engle-wells-fargo)) |
| Sep 30, 2026 | [Schwab](https://www.bankingnewsai.com/banks/charles-schwab) | Charley, a gen-AI assistant for retail clients, unveiled ([Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Meet-Charley-Schwabs-New-AI-Powered-Assistant-Designed-to-Help-Clients-Get-Answers-and-Take-Action/default.aspx), [Charles Schwab (Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/meet-charley-schwab-ai-powered-130000718.html)) |
| Sep 29, 2026 | [Northern Trust](https://www.bankingnewsai.com/banks/northern-trust) | CFO David Fox to retire around March 2027 ([Northern Trust (SEC filings)](https://www.sec.gov/Archives/edgar/data/73124/000007312426000057/ntrs-20260928.htm)) |
| Sep 22, 2026 | [UBS](https://www.bankingnewsai.com/banks/ubs-usa) | Ermotti at the Bank of America conference ([Investing.com](https://investing.com/news/transcripts/ubs-at-bank-of-america-financials-conference-growth-meets-capital-pressure-93CH-4910194)) |
| Sep 22, 2026 | [Raymond James](https://www.bankingnewsai.com/banks/raymond-james) | Meta's Muse reignites the AI selloff ([CNBC](https://www.cnbc.com/2026/09/23/metas-muse-ai-causes-schwab-selloff.html)) |
| Sep 21, 2026 | [Raymond James](https://www.bankingnewsai.com/banks/raymond-james) | Expanded AWS collaboration to advance AI-powered advisor insights ([Raymond James](https://www.raymondjames.com/advisor-opportunities/press-releases/2026/09/21/raymond-james-strengthens-data-and-analytics-capabilities-to-advance-ai-powered-advisor-insights)) |
| Sep 15, 2026 | [Northern Trust](https://www.bankingnewsai.com/banks/northern-trust) | Northern Trust survey: every asset manager respondent uses AI ([Northern Trust (Business Wire via Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/northern-trust-survey-asset-managers-080000689.html)) |
| Sep 10, 2026 | [Morgan Stanley](https://www.bankingnewsai.com/banks/morgan-stanley) | Design partner for OpenAI's banker research tool ([American Banker](https://www.americanbanker.com/news/openai-launches-financial-tool-for-wall-street-bankers)) |
| Sep 10, 2026 | [Morgan Stanley](https://www.bankingnewsai.com/banks/morgan-stanley) | OpenAI launches ChatGPT for Financial Services, shaped with Morgan Stanley and Evercore ([OpenAI](https://openai.com/index/introducing-chatgpt-financial-services/), [Fortune](https://fortune.com/2026/09/10/openai-courts-wall-street-with-chatgpt-for-financial-services-developed-with-morgan-stanley/)) |
| Sep 6, 2026 | [UBS](https://www.bankingnewsai.com/banks/ubs-usa) | AI proficiency required of new junior bankers ([Financial Times](https://www.ft.com/content/76b370ff-b5f6-4e22-aa30-da08b1abb8f8)) |
| Aug 19, 2026 | [Stifel Bank](https://www.bankingnewsai.com/banks/stifel-bank) | American Banker: AI and the cost of adviser recruiting ([American Banker](https://www.americanbanker.com/news/with-deal-costs-up-could-ai-make-recruiting-a-bad-bet)) |

## How do Raymond James' advisor AI tools compare with Morgan Stanley's, UBS's and Schwab's?

Advisor- and associate-facing AI as each firm describes it, with adoption figures and dates.

| Firm | Tools | Adoption disclosed | Date |
| --- | --- | --- | --- |
| Raymond James | Rai/Raimond operations agent; AI Search; CRM Note Assistant; Zoom AI meeting summaries; AI Academy | 10,000+ associates use conversational AI regularly; Rai 6,500 unique users, 99.5% satisfaction; nearly 20,000 Academy completions | January and July 2026 ([InvestmentNews](https://investmentnews.com/independent-broker-dealers/raymond-james-unveils-proprietary-ai-operations-agent/265028), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/raymond-james-financial-q3-earnings-230545601.html), [GlobeNewswire](https://www.globenewswire.com/news-release/2025/04/17/3063545/0/en/raymond-james-invests-in-service-excellence-with-proprietary-generative-ai-search.html), [Raymond James](https://raymondjames.com/athens-branch/about-us/press-releases/2025/05/15/raymond-james-expands-service-focused-technology-investment-with-zoom-ai-companion)) |
| Morgan Stanley | AI @ Morgan Stanley Assistant and Debrief; AskResearchGPT | 98% of advisor teams use the Assistant; about 98% of 80,000 employees have gen-AI access | June 2024; June 2026 ([Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [American Banker](https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking)) |
| UBS (US) | STAAT Insights; Microsoft Copilot; flagship AI platform | Nearly 90% of financial-advisor teams on the flagship platform; about 80% use STAAT Insights | April 2026; December 2025 ([UBS Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/1610520/000161052026000053/investorpresotext2026.htm), [Financial Planning](https://www.financial-planning.com/news/ubs-turns-to-ai-to-gain-wallet-share-find-new-clients)) |
| Schwab | AI Service Assistant; Schwab Knowledge Assistant; Portfolio Insights | All 33,000 employees have AI tools; about 60,000 live interactions transcribed a day | April 16, 2026 ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/schwab-schw-q1-2026-earnings-145425271.html)) |
| Stifel | Advisor-first AI stance; ranked first in J.D. Power's 2026 employee-adviser study | Industry-wide, 73% of employee advisers actively use AI tools (J.D. Power) | July 9, 2026 ([J.D. Power (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/ai-adoption-accelerates-driving-financial-110000407.html)) |
| Wells Fargo | Google Cloud agent stack and staff AI tools | Nearly 200,000 staff with AI tools | October 1, 2026 ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-11-bridget-engle-wells-fargo)) |

## How did Raymond James' shares react to AI disruption fears compared with its rivals?

Same-day share moves on the two AI-scare days of 2026, as reported by CNBC (and, for Stifel, Investing.com).

| Firm | February 10, 2026 (Altruist's Hazel tax tool) | September 22, 2026 (Meta's Muse) |
| --- | --- | --- |
| Raymond James | −8.75% | −3.5% ([CNBC](https://www.cnbc.com/2026/02/10/the-ai-threat-wrecked-software-stocks-now-broker-stocks-look-next-with-lpl-down-11percent.html), [CNBC](https://www.cnbc.com/2026/09/23/metas-muse-ai-causes-schwab-selloff.html)) |
| LPL Financial | −8.31% (down 11% intraday) | −7% ([CNBC](https://www.cnbc.com/2026/02/10/the-ai-threat-wrecked-software-stocks-now-broker-stocks-look-next-with-lpl-down-11percent.html), [CNBC](https://www.cnbc.com/2026/09/23/metas-muse-ai-causes-schwab-selloff.html)) |
| Charles Schwab | −7.42% | −6% ([CNBC](https://www.cnbc.com/2026/02/10/the-ai-threat-wrecked-software-stocks-now-broker-stocks-look-next-with-lpl-down-11percent.html), [CNBC](https://www.cnbc.com/2026/09/23/metas-muse-ai-causes-schwab-selloff.html)) |
| Stifel | About −6% | Not reported ([Investing.com (Yahoo Finance)](https://uk.finance.yahoo.com/news/schwab-raymond-james-stifel-drop-173410149.html)) |
| Morgan Stanley | −2.4% | Not reported ([CNBC](https://www.cnbc.com/2026/02/10/the-ai-threat-wrecked-software-stocks-now-broker-stocks-look-next-with-lpl-down-11percent.html)) |

## How does Raymond James' technology spending and AI stack compare?

Technology budgets and named AI platforms or partners as each firm discloses them.

| Firm | Technology spend | AI platform or partners | Date |
| --- | --- | --- | --- |
| Raymond James | More than $1.1 billion a year ($975 million in 2025) | Built on AWS; Anthropic's Claude as the language model 'for the moment' | April and May 2026 ([Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/raymond-james-rjf-q2-2026-234354155.html), [GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2), [WealthManagement.com](https://wealthmanagement.com/ibd-news/raymond-james-announces-ai-driven-client360-platform-ai-advisor-academy)) |
| Bank of America | $13.5 billion in 2026, about $4 billion for new initiatives | Erica and EricaAssist | March 2026 ([Bank of America (PR Newswire)](https://prnewswire.com/news-releases/merrill-and-bank-of-america-private-bank-launch-ai-powered-meeting-journey-302725593.html)) |
| Wells Fargo | More than $10 billion a year; 30,000 technologists | Google Cloud agent stack | October 2026 ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-11-bridget-engle-wells-fargo)) |
| Schwab | Not on its profile | 220+ AI use cases; developer productivity up 15% to 20% | January and July 2026 ([MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/charles-schwab-q4-earnings-call-171437278.html), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/schwab-schw-q2-2026-earnings-003012150.html)) |
| Northern Trust | Not on its profile | 150+ AI use cases in production | October 2025 ([GuruFocus (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-corp-ntrs-q3-190424060.html)) |

## Which banks are Raymond James's peers, and why these?

Raymond James Financial is compared here with Stifel Financial (Stifel Bank & Trust), The Charles Schwab Corporation, Morgan Stanley, UBS (US), Bank of America, Wells Fargo, Northern Trust and Goldman Sachs: chosen by the editors for this page (see the note below the table). Raymond James Financial is classed as a investment bank, broker or wealth manager in the Southeast.

The computed group mixed in Deutsche Bank US, Associated, Barclays US, EverBank and Prosperity; this group holds the advisor-led wealth managers Raymond James competes with for advisors, clients and assets (Stifel, Schwab and Northern Trust, all in its 2026 proxy peer group, plus Morgan Stanley, UBS, Merrill's parent Bank of America and Wells Fargo) and Goldman Sachs, a rival in wealth and investment banking.

## Common questions

### Is Raymond James better than Morgan Stanley at AI?

The record cannot settle capability. Raymond James has put more on this site's disclosure index (84.5 against 69.7), mostly through its own releases. Morgan Stanley reports wider advisor adoption: 98% of advisor teams use its AI Assistant, and about 98% of its 80,000 employees have gen-AI access (June 2026). ([Raymond James](https://raymondjames.com/news-and-media/press-releases/2026/01/27/raymond-james-launches-proprietary-digital-ai-agent-to-bolster-operational-excellence), [Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [American Banker](https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking))

### Does Raymond James have an AI assistant for clients?

Not yet. Its AI tools serve advisors and associates: Rai, AI Search, CRM Note Assistant and Zoom AI summaries. CIO Andy Zolper said in May 2026 that Raimond could become client-facing if advisors see a use case. The firm's stated philosophy is 'augmenting the human touch, rather than replacing it'. ([Raymond James](https://raymondjames.com/news-and-media/press-releases/2026/01/27/raymond-james-launches-proprietary-digital-ai-agent-to-bolster-operational-excellence), [GlobeNewswire](https://www.globenewswire.com/news-release/2025/04/17/3063545/0/en/raymond-james-invests-in-service-excellence-with-proprietary-generative-ai-search.html), [Raymond James](https://raymondjames.com/athens-branch/about-us/press-releases/2025/05/15/raymond-james-expands-service-focused-technology-investment-with-zoom-ai-companion), [WealthManagement.com](https://wealthmanagement.com/ibd-news/raymond-james-announces-ai-driven-client360-platform-ai-advisor-academy), [GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2))

### How does Raymond James compare with Schwab on AI?

Raymond James scores 84.5 and Schwab 80.7 on this site's index. Schwab reports 220-plus AI use cases, AI tools for all 33,000 employees and an AI Service Assistant transcribing about 60,000 live interactions a day. Raymond James reports more than 10,000 associates using conversational AI and 6,500 users of its Rai agent. ([MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/charles-schwab-q4-earnings-call-171437278.html), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/schwab-schw-q1-2026-earnings-145425271.html), [InvestmentNews](https://investmentnews.com/independent-broker-dealers/raymond-james-unveils-proprietary-ai-operations-agent/265028), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/raymond-james-financial-q3-earnings-230545601.html))

### How does Raymond James compare with Stifel on AI?

Stifel scores 6.5 on this site's index, near the bottom of the 120 US banks, against Raymond James' 84.5. Both describe advisor-first approaches. Raymond James names a chief AI officer and reports usage of its own tools; Stifel's 10-K mentions AI 57 times, up from zero two years earlier, and it ranked first in J.D. Power's 2026 employee-adviser study. ([Raymond James via Canada NewsWire (Yahoo Finance)](https://finance.yahoo.com/news/raymond-james-financial-appoints-chief-212200934.html), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/raymond-james-financial-q3-earnings-230545601.html), [Stifel Financial (SEC filings)](https://www.sec.gov/Archives/edgar/data/720672/000119312526067130/sf-20251231.htm), [J.D. Power (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/ai-adoption-accelerates-driving-financial-110000407.html))

### How does Raymond James compare with UBS on AI?

UBS's US business scores 75.3 on this site's index against Raymond James' 84.5. UBS reports wider advisor adoption, with nearly 90% of US financial-advisor teams on its flagship AI platform (April 2026) and over 20 million STAAT insights delivered in 2025. Raymond James reports its own agent, Rai, at 6,500 users and a dedicated chief AI officer. ([UBS Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/1610520/000161052026000053/investorpresotext2026.htm), [UBS Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/1610520/000161052026000023/ubs-20251231.htm), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/raymond-james-financial-q3-earnings-230545601.html), [Raymond James via Canada NewsWire (Yahoo Finance)](https://finance.yahoo.com/news/raymond-james-financial-appoints-chief-212200934.html))

### How much does Raymond James spend on technology?

More than $1.1 billion a year, CEO Paul Shoukry said on the April 2026 call, up from $975 million in 2025. Its May 2026 investor day put 'AI Scaling and Automation' on the technology roadmap and cited Cerulli data that 54% of advisors call technology the top recruiting factor. ([Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/raymond-james-rjf-q2-2026-234354155.html), [GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2), [Raymond James Financial (SEC filings)](https://www.sec.gov/Archives/edgar/data/720005/000072000526000060/rjf2026analystinvestorda.htm))

### Which AI model does Raymond James use?

CIO Andy Zolper told WealthManagement.com in May 2026 that the firm built its AI platforms with Amazon Web Services and uses Anthropic's Claude 'for the moment', staying open to other providers. In September 2026 it announced an expanded AWS data and analytics collaboration to support AI-powered advisor insights. ([WealthManagement.com](https://wealthmanagement.com/ibd-news/raymond-james-announces-ai-driven-client360-platform-ai-advisor-academy), [Raymond James](https://www.raymondjames.com/advisor-opportunities/press-releases/2026/09/21/raymond-james-strengthens-data-and-analytics-capabilities-to-advance-ai-powered-advisor-insights))

### Why did Raymond James stock fall on AI news?

Investors fear AI tools will compress wealth-management fees and cash-sweep income. On February 10, 2026 the shares fell 8.75% after Altruist launched an AI tax-planning tool in its Hazel platform; on September 22, 2026 they fell 3.5% after Meta announced Muse. The CEO has called AI cash optimisation an 'incremental threat' to sweep revenue. ([CNBC](https://www.cnbc.com/2026/02/10/the-ai-threat-wrecked-software-stocks-now-broker-stocks-look-next-with-lpl-down-11percent.html), [CNBC](https://www.cnbc.com/2026/09/23/metas-muse-ai-causes-schwab-selloff.html), [American Banker](https://americanbanker.com/news/amid-ai-threat-lpl-reviews-reliance-on-cash-sweeps))

## Peers on this site

- [Stifel Financial (Stifel Bank & Trust) AI strategy](https://www.bankingnewsai.com/banks/stifel-bank) · [vs peers](https://www.bankingnewsai.com/banks/stifel-bank/vs-peers)
- [The Charles Schwab Corporation AI strategy](https://www.bankingnewsai.com/banks/charles-schwab) · [vs peers](https://www.bankingnewsai.com/banks/charles-schwab/vs-peers)
- [Morgan Stanley AI strategy](https://www.bankingnewsai.com/banks/morgan-stanley) · [vs peers](https://www.bankingnewsai.com/banks/morgan-stanley/vs-peers)
- [UBS (US) AI strategy](https://www.bankingnewsai.com/banks/ubs-usa) · [vs peers](https://www.bankingnewsai.com/banks/ubs-usa/vs-peers)
- [Bank of America AI strategy](https://www.bankingnewsai.com/banks/bank-of-america) · [vs peers](https://www.bankingnewsai.com/banks/bank-of-america/vs-peers)
- [Wells Fargo AI strategy](https://www.bankingnewsai.com/banks/wells-fargo) · [vs peers](https://www.bankingnewsai.com/banks/wells-fargo/vs-peers)
- [Northern Trust AI strategy](https://www.bankingnewsai.com/banks/northern-trust) · [vs peers](https://www.bankingnewsai.com/banks/northern-trust/vs-peers)
- [Goldman Sachs AI strategy](https://www.bankingnewsai.com/banks/goldman-sachs) · [vs peers](https://www.bankingnewsai.com/banks/goldman-sachs/vs-peers)

## Sources

1. Raymond James Financial appoints chief artificial intelligence officer to drive innovation and AI business solutions — Raymond James via Canada NewsWire (Yahoo Finance), Feb 24, 2025. https://finance.yahoo.com/news/raymond-james-financial-appoints-chief-212200934.html
2. Raymond James Hires David Solganik as Head of AI Strategy — GlobeNewswire via FT Markets, Sep 8, 2025. https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2
3. Raymond James rolls out proprietary AI operations agent — InvestmentNews, Jan 28, 2026. https://investmentnews.com/independent-broker-dealers/raymond-james-unveils-proprietary-ai-operations-agent/265028
4. Raymond James Financial Q3 Earnings Call Highlights — MarketBeat (Yahoo Finance), Jul 22, 2026. https://finance.yahoo.com/markets/stocks/articles/raymond-james-financial-q3-earnings-230545601.html
5. Raymond James (RJF) Q2 2026 Earnings Transcript — Yahoo Finance, Apr 22, 2026. https://finance.yahoo.com/markets/stocks/articles/raymond-james-rjf-q2-2026-234354155.html
6. Launch of AI @ Morgan Stanley Debrief — Morgan Stanley, Jun 26, 2024. https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch
7. UBS first-quarter 2026 earnings call prepared remarks and Q&A (Form 6-K) — UBS Group (SEC filings), Apr 30, 2026. https://www.sec.gov/Archives/edgar/data/1610520/000161052026000053/investorpresotext2026.htm
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10. Raymond James appoints Chief Architect to bolster enterprise technology and AI strategy — Raymond James, Jun 8, 2026. https://raymondjames.com/richmond-branch/about-us/press-releases/2026/06/08/raymond-james-appoints-chief-architect-to-bolster-enterprise-technology-and-ai-strategy
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27. Meta's Muse reignites AI disruption fears. Traders are targeting this brokerage stock as next casualty — CNBC, Sep 23, 2026. https://www.cnbc.com/2026/09/23/metas-muse-ai-causes-schwab-selloff.html
28. Schwab, Raymond James, Stifel drop as AI stirs concerns over advisory models — Investing.com (Yahoo Finance), Feb 10, 2026. https://uk.finance.yahoo.com/news/schwab-raymond-james-stifel-drop-173410149.html
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60. Schwab Plans to Use AI to Reach, Serve Less-Affluent Customers — Bloomberg, May 13, 2026. https://bloomberg.com/news/articles/2026-05-13/schwab-plans-to-use-ai-to-reach-serve-less-affluent-customers
61. Charles Schwab CEO Says AI Is Poised to Boost Wealth Managers — Bloomberg, Feb 11, 2026. https://bloomberg.com/news/articles/2026-02-11/charles-schwab-ceo-says-ai-is-poised-to-boost-wealth-managers
62. US 2025/0077917 A1: Systems and methods for iterative generation and plotting of machine learning outcomes on a user interface (Charles Schwab & Co.) — Google Patents (USPTO), Nov 20, 2024. https://patents.google.com/patent/US20250077917A1/en
63. US 2026/0051336 A1: System and method to enhance audio and video media using generative artificial intelligence (Morgan Stanley Services Group) — Google Patents (USPTO), Feb 19, 2026. https://patents.google.com/patent/US20260051336A1/en
64. UBS deploys AI programs to unlock efficiency — Banking Dive, Feb 6, 2026. https://bankingdive.com/news/ubs-deploys-ai-programs-unlock-efficiency-ermotti-magazzeni-credit-suisse/811572
65. US11429879B2: Methods and systems for identifying dynamic thematic relationships as a function of time — Google Patents (USPTO), Aug 30, 2022. https://patents.google.com/patent/US11429879B2/en
66. The Man Behind Bank of America's $13 Billion Tech Agenda — The Wall Street Journal, Aug 20, 2025. https://www.wsj.com/articles/the-man-behind-bank-of-americas-13-billion-tech-agenda-3d770a2d
67. Bank of America's CTO champions a disciplined approach to AI — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/bofas-cto-is-12-on-the-most-innovative-people-in-finance-ranking
68. US 12,705,363 B2: Vulnerability detection and mitigation using artificial intelligence in an electronic environment (Bank of America Corporation) — Google Patents (USPTO), Aug 11, 2026. https://patents.google.com/patent/US12705363B2/en
69. Wells Fargo Names Saul Van Beurden to Lead Artificial Intelligence — Wells Fargo via FT Markets, Nov 20, 2025. https://markets.ft.com/data/announce/detail?dockey=600-202511201615BIZWIRE_USPRX____20251120_BW971693-1
70. Wells Fargo Taps Amazon Web Services Executive to Expand AI Use — Bloomberg, Jan 26, 2026. https://www.bloomberg.com/news/articles/2026-01-26/wells-fargo-taps-amazon-web-services-executive-to-expand-ai-use
71. US 2026/0087043 A1: Model-based personal advisor system — Google Patents (USPTO), Sep 23, 2025. https://patents.google.com/patent/US20260087043A1/en
72. Northern Trust CEO dismisses reports of takeover talks — Banking Dive, Jul 24, 2025. https://www.bankingdive.com/news/northern-trust-ceo-dismisses-bny-goldman-sachs-takeover-reports-ogrady-warren-vince/753953/
73. Northern Trust joins banks lifted by IPOs, capital markets — American Banker, Jul 22, 2026. https://www.americanbanker.com/news/northern-trust-joins-banks-lifted-by-ipos-capital-markets
74. Northern Trust Corp (NTRS) Q3 2025 Earnings Call Highlights — GuruFocus (Yahoo Finance), Oct 22, 2025. https://finance.yahoo.com/news/northern-trust-corp-ntrs-q3-190424060.html
75. US 11,869,015 B1: Computing technologies for benchmarking (Northern Trust Corporation) — Google Patents (USPTO), Jan 9, 2024. https://patents.google.com/patent/US11869015B1/en
76. Goldman Sachs taps Anthropic's Claude to automate accounting, compliance roles — CNBC, Feb 6, 2026. https://www.cnbc.com/2026/02/06/anthropic-goldman-sachs-ai-model-accounting.html
77. US20260072655A1: Context injection for artificial intelligence (AI) coding assistants — Google Patents (USPTO), Mar 12, 2026. https://patents.google.com/patent/US20260072655A1/en
78. Earnings call transcript: Goldman Sachs tops Q3 2026 estimates as revenue rises — Investing.com, Oct 13, 2026. https://investing.com/news/transcripts/earnings-call-transcript-goldman-sachs-tops-q3-2026-estimates-as-revenue-rises-93CH-4947164
79. Goldman's Solomon wants 'clear human accountability' on AI — American Banker, Oct 13, 2026. https://americanbanker.com/news/goldmans-solomon-wants-clear-human-accountability-on-ai
80. Wells Fargo Enhances Banking Capabilities Using AI and Digital Assets — PYMNTS, Oct 13, 2026. https://pymnts.com/earnings/2026/wells-fargo-enhances-banking-capabilities-using-ai-and-digital-assets
81. Wells Fargo Reports Third Quarter 2026 Net Income of $6.0 billion, or $1.87 per Diluted Share — Wells Fargo, Oct 13, 2026. https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/third-quarter-2026-earnings.pdf
82. U.S. Treasury Announces Record Enforcement Actions Against Bank of America — U.S. Department of the Treasury, Oct 13, 2026. https://home.treasury.gov/news/press-releases/sb0657
83. OCC Imposes $750 Million Assessment Against Bank of America for Deficient BSA/AML Compliance — Office of the Comptroller of the Currency, Oct 13, 2026. https://www.occ.gov/news-issuances/news-releases/2026/nr-occ-2026-89.html
84. BofA fined $1.21 billion over AML — Banking Dive, Oct 13, 2026. https://bankingdive.com/news/bofa-fined-1-21-billion-over-aml-bsa-occ-treasury/832915
85. Young Bankers to Manage AI Agents From Start, Goldman Exec Says — Bloomberg, Oct 8, 2026. https://bloomberg.com/news/articles/2026-10-08/young-bankers-to-manage-ai-agents-from-start-goldman-exec-says
86. Charles Schwab's Amy Ruegg: AI Can Make Investing Easier, but Human Expertise Remains Key — Traders Magazine, Oct 8, 2026. https://www.tradersmagazine.com/featured_articles/charles-schwabs-amy-ruegg-ai-can-make-investing-easier-but-human-expertise-remains-key/
87. Stifel CEO Ron Kruszewski: We should be looking at companies benefiting from AI, not just those building AI — CNBC, Oct 7, 2026. https://cnbc.com/video/2026/10/07/stifel-ceo-ron-kruszewski-we-should-be-looking-at-companies-benefiting-from-ai-not-just-those-building-ai.html
88. JPMorganChase still tops AI ranking as big-bank lead widens — American Banker, Oct 6, 2026. https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens
89. Meet Charley, Schwab's New AI-Powered Assistant Designed to Help Clients Get Answers and Take Action — Charles Schwab (Yahoo Finance), Sep 30, 2026. https://finance.yahoo.com/technology/ai/articles/meet-charley-schwab-ai-powered-130000718.html
90. Northern Trust Corporation Form 8-K: Chief Financial Officer David W. Fox, Jr. plans to retire — Northern Trust (SEC filings), Sep 29, 2026. https://www.sec.gov/Archives/edgar/data/73124/000007312426000057/ntrs-20260928.htm
91. UBS at Bank of America financials conference: growth meets capital pressure (transcript) — Investing.com, Sep 22, 2026. https://investing.com/news/transcripts/ubs-at-bank-of-america-financials-conference-growth-meets-capital-pressure-93CH-4910194
92. Northern Trust Survey: Asset Managers Sharpen Focus on Core Capabilities to Drive Growth — Northern Trust (Business Wire via Yahoo Finance), Sep 15, 2026. https://finance.yahoo.com/markets/stocks/articles/northern-trust-survey-asset-managers-080000689.html
93. OpenAI launches financial tool for Wall Street bankers — American Banker, Sep 10, 2026. https://www.americanbanker.com/news/openai-launches-financial-tool-for-wall-street-bankers
94. Introducing ChatGPT for Financial Services — OpenAI, Sep 10, 2026. https://openai.com/index/introducing-chatgpt-financial-services/
95. OpenAI courts Wall Street with ChatGPT for financial services, developed with Morgan Stanley — Fortune, Sep 10, 2026. https://fortune.com/2026/09/10/openai-courts-wall-street-with-chatgpt-for-financial-services-developed-with-morgan-stanley/
96. UBS demands new junior bankers show AI proficiency — Financial Times, Sep 6, 2026. https://www.ft.com/content/76b370ff-b5f6-4e22-aa30-da08b1abb8f8
97. With deal costs up, could AI make recruiting a bad bet? — American Banker, Aug 19, 2026. https://www.americanbanker.com/news/with-deal-costs-up-could-ai-make-recruiting-a-bad-bet
98. Behind UBS' AI strategy to win wallet share, client leads — Financial Planning, Dec 1, 2025. https://www.financial-planning.com/news/ubs-turns-to-ai-to-gain-wallet-share-find-new-clients
99. AI Adoption Accelerates, Driving Financial Advisor Loyalty, JD Power Finds — J.D. Power (Business Wire via Yahoo Finance), Jul 9, 2026. https://finance.yahoo.com/technology/ai/articles/ai-adoption-accelerates-driving-financial-110000407.html
100. Charles Schwab Q4 Earnings Call Highlights — MarketBeat (Yahoo Finance), Jan 21, 2026. https://finance.yahoo.com/news/charles-schwab-q4-earnings-call-171437278.html
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